Last updated: December 31, 2020 at 10:10 pm ET
First published: December 31, 2020 at 10:07 pm ET
China Mobile has been registered on the NYSE since 1997.
AFP / Getty Photos
The New York Stock Exchange announced late Thursday that it has begun delivering the proceedings of the three largest Chinese telecoms companies to comply with an order of action by President Donald Trump targeting arms-linked companies China.
American investment shares of China Mobile Ltd. will be traded. CHL, China Telecom Corp. Ltd. CHA and China Unicom (Hong Kong) Ltd. CHU postponed Jan. 7, unless it can be proved that trades were executed Jan. 7 and Jan. 8 will be executed, in which case a trade …
The New York Stock Exchange announced late Thursday that it has begun delivering the proceedings of the three largest Chinese telecoms companies to comply with an order of action by President Donald Trump that targets companies affiliated with Chinese military.
American investment stock exchange of China Mobile Ltd.
CHL
,
China Telecom Corp. Ltd.
CHA
and China Unicom (Hong Kong) Limited.
CHU
will be postponed Jan. 7, unless it can be proved that trades executed Jan. 7 and Jan. 8 executed, in which case a trade will be canceled Jan. 11, the NYSE said. The NYSE said it will provide more information as it becomes available.
The NYSE said it will contact the Securities and Exchange Commission to release the stocks upon the completion of the proceedings, including any possible appeals.
Trump signed the Nov. 12 order, banning Americans from investing in a handful of Chinese companies that the U.S. claims support or donate Chinese weapons.
All three companies control China’s mobile industry. China Mobile is the largest telecom company in China, with a market potential of around $ 116 billion. It has been listed on the NYSE since its inception, a $ 4.2 billion IPO in 1997. China Telecom has been listed on the NYSE since 2002, and has a market potential of approximately $ 22.5 billion . China Unicom has been listed by the NYSE since 2000, with a current market capacity of about $ 18 billion.
All three companies are also listed in Hong Kong.